Tds deduction

This query is : Resolved

tailor divyesh (Querist)
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18 April 2012 sir,
My firm building Is Lease
April 2011 To December 2011 Rent Payable In Cash Rent Per month 8000 & Total rent of these Period 72000
January 2012 To March 2012 rent Payable In Chq. Per Month Rent 45000 Total rent Of These period 135000

Give me A Answer My Firm Rent Is TDS Liabilities

CA Dileep Surya Kumar

CA Dileep Surya Kumar (Expert)
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18 April 2012 TDS on rent should be deducted if the amout credited or paid or likely to be credited or paid during the financial year exceeds RS.180000(whether paid by way of cash or Cheque or draft or any other mode /payable).

In your case You need to deduct tds U/S 194I at a rate for
1.Plant or Machinery or Equipment-2%

2.Rent on Land or Building (including
factory building) or Furniture or fittings –10%.

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